15 January 2001
Inquiries: Mr Timo Koskimäki +358 9 1734 3479, Mr
Juhani Pekkarinen +358 9 1734 3476
Harmonised Index of Consumer Prices: Ms Mari Ylä-Jarkko +358 9 1734
3310
Director in charge: Mr Jarmo Hyrkkö
Inflation slowed down to 3.5 per cent in December
According to Statistics Finland, the year-on-year change in consumer prices, i.e. inflation, was 3.5 per cent in December. In November the rate was 4.0 per cent. Inflation was curbed above all by lower prices of liquid fuels. The average inflation rate for the year 2000 was 3.4 per cent.
Higher interest rates of housing loans and consumer credits compared to December 1999 affected inflation most, by a total of 0.7 percentage points. The direct impact of higher petrol and light fuel oil prices on inflation fell to 0.5 percentage points last month. The impact of food price increases was 0.4 percentage points. Rents and public transport fares also went up in December from the previous year. Inflation was curbed somewhat by cuts in the prices of used cars.
From November to December, consumer prices fell by 0.2 per cent, almost entirely due to reductions in the prices of petrol and light fuel oil.
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Inflation indicators in Finland, December 2000 |
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|
Point figure |
Change on one year |
Change on one month |
|
|
Consumer Price Index (1995=100) |
109.1 |
3.5% |
-0.2% |
|
Cost of Living Index (1951:10=100) |
1,517 |
||
|
Harmonised Index of Consumer Prices (1996=100) |
107.9 |
2.9% |
-0.2% |
Each mid-month, Statistics Finland interviewers collect over 50,000 price data items from approximately 2,000 outlets for the Consumer Price Index. In addition, some 600 items of price data are gathered by centralised collection.
Inflation in member countries of EMU 2.9 per cent in November
According to the Harmonised Index of Consumer Prices, the rate of inflation in the member countries of EMU was 2.9 per cent in November. Inflation quickened slightly for it was 2.7 per cent in October. Among the member countries of EMU inflation was fastest in Ireland, at 6.0 per cent, and slowest in France, at 2.2 per cent. The corresponding figure for Finland stood at 3.3 per cent in November. In the Member States of the EU inflation was 2.6 per cent in November.
In December, the Finnish point figure on the Harmonised Index of Consumer Prices (1996=100) rose by 2.9 per cent from twelve months before. From November to December, the index fell by 0.2 per cent. The Statistical Office of the European Communities, Eurostat, will release the EU's Harmonised Index of Consumer Prices on 22 January 2001.
Source: Consumer Price Index 2000, December. Statistics Finland.